Lombard Odier Asset Management USA Corp Takes Position in Valvoline Inc. (NYSE:VVV)

Lombard Odier Asset Management USA Corp bought a new position in shares of Valvoline Inc. (NYSE:VVV) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 8,685 shares of the basic materials company’s stock, valued at approximately $375,000.

Several other hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after buying an additional 267 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Valvoline in the 2nd quarter valued at $34,000. Mather Group LLC. increased its holdings in Valvoline by 1,617.0% in the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 760 shares in the last quarter. Principal Securities Inc. purchased a new position in Valvoline in the fourth quarter valued at about $39,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Valvoline by 23.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,940 shares of the basic materials company’s stock worth $73,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Trading Down 0.9 %

NYSE VVV opened at $41.21 on Monday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 32.71 and a beta of 1.45. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. Valvoline Inc. has a 12 month low of $29.15 and a 12 month high of $48.26. The company’s fifty day moving average price is $42.34 and its two-hundred day moving average price is $42.47.

Valvoline (NYSE:VVV) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $421.00 million for the quarter, compared to the consensus estimate of $425.17 million. Valvoline had a return on equity of 182.88% and a net margin of 10.45%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. As a group, research analysts predict that Valvoline Inc. will post 1.53 earnings per share for the current fiscal year.

Valvoline declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on VVV shares. Wells Fargo & Company dropped their target price on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of Valvoline in a research report on Thursday, August 15th. They set an “outperform” rating and a $48.00 target price on the stock. Citigroup raised their price target on shares of Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Piper Sandler started coverage on shares of Valvoline in a report on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 price objective on the stock. Finally, Royal Bank of Canada lowered their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.57.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.